Executive Mosaic’s GovCon Index closed above the 90-point barrier for the first time in two months Friday to end the week higher as all three major U.S. stock indices closed at record highs for a second consecutive session on extended investor anticipation over President Donald Trump’s tax announcement within the next few weeks.

Cubic climbed to a 52-week high after the San Diego-based defense and transportation contractor reported a 7-percent increase from the prior year period for first quarter sales, which exceeded Wall Street’s expectations.

In conjunction, the S&P industrial index added nearly 0.75 percent on the resurgent Trump post-election rally in U.S. equity markets.

The GovCon Index has climbed 7 percent and the S&P 500 has risen 8 percent since the Nov. 8 election on investor expectations of lower corporate taxes and regulations along with increases to defense and infrastructure spending.

On a weekly basis, 23 of the GovCon Index’s 30 companies advanced with AECOM (NYSE: ACM) the top percentage gainer and co-listed CSRA (NYSE: CSRA) the lowest performer.

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The premier source of breaking business news for the government contracting industry, GovCon Wire provides informative, to-the-point stories of the most significant contract awards, top-level executive moves, M&A activities and financial results of the sector’s most notable players.

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